NPA must reduce fuel prices – AFAG

Pressure group, Alliance for Accountable Governance (AFAG) is asking for a significant reduction in the prices of petroleum products after the petroleum price review by the National Petroleum Authority (NPA).

The group has also charged President Mahama to listen to the cries of Ghanaians “and press forward for a significant reduction of fuel prices.”

The NPA is currently meeting to review the prices of petroleum products. Ghanaians have been demanding a drastic reduction in petroleum prices following the continuous decline in the price of crude oil on the world market.

The NPA refused saying it needed to raise funds to settle its debts to the Bulk Oil Distribution Companies (BDCs).

So far, an amount of GHC200 million has been accrued and paid to the BDCs but the NPA is left with about GHC 212 million to pay.

The NPA’s Director of Public Affairs, Yaro Kasambata in an earlier interview with Citi News said the review is “is just normal, it’s routine, it’s just part of our daily operations, there is nothing so peculiar about it.”

However, a statement signed by the leadership of AFAG said it will be unthinkable if the petroleum prices are not reviewed downwards considering the “present precarious economic circumstances to stay the prices same.”

AFAG warned the NPA to strictly adhere to its pricing formula by adjusting the prices accordingly to reflect the price of crude on the world market.

source : citifmonline.com